Global Connected Drug Delivery Devices Market by Product (Connected Sensors, Integrated Connected Devices), by Technology (NFC, Bluetooth) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global connected drug delivery device market was worth USD 214.10 million in 2020. It is projected to grow at a compound annual rate (CAGR of 46.7%) between 2021 and 2028. The market is expected to grow due to increased patient engagement and connectivity, owing to increasing penetration of the Internet of Things (IoT), in the medical device sector. The market saw an explosion in demand for home-based drug delivery solutions during the Covid-19 epidemic. It is expected that the product will continue to grow in the future due to the increasing emphasis on patient compliance and quality, increased awareness about production footprint and associated cost, and the growing use of self-administered or connected drug therapy.

Market growth will be supported by an increasing number of initiatives and programs that aim to raise awareness about the importance of following doctors' orders. Market growth is expected to be driven by increasing awareness about the advantages of connected systems over traditional systems.

In recent years, the market has seen positive changes through partnerships, collaborations and product launches & approvals. The market players who are involved in developing and producing sensors also run various medical programs.

Propeller Health, for example, has created around 60 connected medical programs that highlight the technological challenges in managing drug deliveries devices. This has added value to connected drugs delivery devices. These devices allow physicians to monitor patients' compliance to prescribed therapy and to adjust treatments as necessary.

Market impact of COVID19-connected drug delivery devices: Exponential growth of 23.8% between 2019 and 2020

Product Insights

Connected sensors dominated the market, accounting for 68% of the total revenue in 2020. The connected sensors can be used with existing delivery devices and can be reused, even if they are disposable. The sensors can be further broken down into connected injection sensors and connected Inhaler sensors. The segment of integrated connected devices is expected to experience the fastest CAGR during the forecast period. The segment of integrated connected devices can also be sub-segmented to connected injection devices and connected inhalation device.

Inhalation devices have many advantages over injection devices. These include needleless drug delivery and the ability to inhale. Inhalation devices will see a rise in demand due to the rising incidence of chronic respiratory conditions such as asthma and chronic obstruction pulmonary disease (COPD). A 2019 study by Centers for Disease Control & Prevention (CD) found that 1 in 13 people worldwide had asthma. The market will continue to grow due to IoT, and other technologies.

End-user insights

In 2020, the healthcare providers segment had the highest revenue share at more than 50%. This is due to increased rates of COPD, Cardiovascular Diseases, Diabetes, and other chronic conditions that require proper health records. The connected drug delivery devices monitor and deliver drugs, as well as maintain patient health records.

The homecare market is expected to grow at the fastest rate between 2021 and 2028 due to increasing product acceptance in homecare settings. These devices allow for the administration of medication in homecare settings, without the need for healthcare providers and without any errors. These factors will drive segment growth.

Technology Insights

Due to its high use in drug delivery devices, Bluetooth technology accounted for 65.3% of the total revenue share in 2020. This segment will see significant growth due to technological advancements. The technology is also cheaper and more easily accessible than HTML3_ NFC HTML3_ and other similar technologies.

NFC will be a significant market segment by 2028, as it allows for communication via the internet and mobile apps. The technology is widely used for drug tracking and identification. As cellular technologies prove to have a benefit in transmitting data to connected drug delivery devices, the others segment will show the fastest CAGR at 57%. These devices also overcome limitations such as the need for a hub or a companion device.

Regional Insights

North America dominated the global market in 2020, accounting for 34% of the revenue. This is due to high per capita healthcare spending, rapid adoption of new technologies and devices, rising awareness about the negative effects of drug therapy non-compliance, and the fact that the region will continue to be the dominant market in the future.

Europe is expected to be the fastest growing regional market during the forecast period due to increasing numbers of chronic diseases and the large target population. Due to the high cost of these devices, product demand in regions such as Asia Pacific (except Australia and Japan), Latin America and MEA is expected to stay low over the next few years. The increasing number of market players will mean that product prices will decrease in the future. This will help to support market development in these regions.

Market Share Insights & Key Companies

Market leaders participate in strategic alliances and acquisitions to stay ahead of the competition. To improve their market position, companies are investing in product launches. Propeller Health, for example, launched its digital health sensor, New Enerzair, and Atectura Breezhaler asthma medication in Japan in August 2020.

Due to the pandemic in the world, there is a huge demand for connected drug delivery systems. These devices can be used by anyone without the assistance of healthcare professionals. Market players will have immense opportunities to show the effectiveness of their products to patients and healthcare professionals. The following are some of the most prominent players in connected drug delivery device market:

• Propeller Health

• Teva Pharmaceutical Industries Ltd.

• BIOCORP

• Merck KGaA

• Adherium Ltd.

• West Pharmaceutical Services, Inc.

• Aterica

• Phillips Medisize

• FindAir

• Elcam Medical

Up Market Research published a new report titled “Connected Drug Delivery Devices Market research report which is segmented by Product (Connected Sensors, Integrated Connected Devices), by Technology (NFC, Bluetooth), By Players/Companies Phillips Medisize, BIOCORP, Elcam Medical, Aterica, Adherium Ltd, Teva Pharmaceutical Industries Ltd, West Pharmaceutical Services Inc, Merck KGaA, FindAir, Propeller Health”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Connected Drug Delivery Devices Market Report Segments:

The market is segmented by Product (Connected Sensors, Integrated Connected Devices), by Technology (NFC, Bluetooth).

Connected Drug Delivery Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Connected Drug Delivery Devices Market

Overview of the regional outlook of the Connected Drug Delivery Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Connected Drug Delivery Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Connected Drug Delivery Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Connected Sensors

                2. Integrated Connected Devices

                1. NFC

                2. Bluetooth

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Connected Drug Delivery Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Connected Drug Delivery Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.